Another round on tax reform
Jason Furman returns for an update on the GOP tax reform effort.
Last month, when we first sat down with Professor Jason Furman to talk about the GOP tax reform effort, a specific bill had yet to be made public. Instead, we discussed the broad-strokes outline proposed by the Trump Administration. But in only a few weeks time, not only has specific legislation been proposed, but two bills have already made their way through the U.S. House and Senate, respectively.
It’s a lot to have taken place in such a short amount of time, especially considering the far reaching consequences of the landmark piece of legislation. So if you’re head’s still spinning and you’re looking for some perspective — hold tight, we’ve got you covered.
This week Prof. Furman, the former Chair of the Obama Administration’s Council of Economic Advisers, returned for a special live PolicyCast broadcast, and offered an update perspective on the legislation that’s currently being hammered out in conference committee.
Prof. Furman discusses:
- The speed with which the bills have been acted on
- How much economic growth might result from the bill
- Why economists on both sides of the aisle aren’t thrilled with the so-called “pass-through corporation” provision
- How the elimination of the State and Local Tax (SALT) deduction could hurt the ability of state governments to meet their revenue needs
- Positive aspects that he sees in the bills
- Whether the process of passing this bill shares anything in common with the Affordable Care Act — the signature achievement of President Obama’s early presidency
- How raising taxes on university endowments and graduate students could hurt U.S. competitiveness
- The impact of the two bills’ substantial cuts in corporate tax rates
Each week on PolicyCast, Host Matt Cadwallader (@mattcad) explores the ways individuals make democracy work by speaking with the world’s leading experts in public policy, media, and international affairs about their experiences confronting our most pressing public problems.
